Posts Tagged ‘healthcare’

Hatch Says It’s “Nuts” To Think Health Care Issue Resolved On Monday; House Majority Leader Says Bill Is Constitutional

Hatch Says It’s "Nuts" To Think Health Care Issue Resolved On Monday; House Majority Leader Says Bill Is Constitutional

Courtesy of Mish

Detail view of medicine labels

A flurry of news reports abound as President Obama puts on a full court press to pass legislation no one really wants except the President and those who have been bribed. Let’s take a look at a handful of articles.

Democrats About Six Votes Short on Health Care, Officials Say

March 19 (Bloomberg) — Democrats need about six more votes from House members to pass a U.S. health-care overhaul, Obama administration officials said today.

White House and Democratic leaders aim to collect those votes from a pool of about 14 to 15 undecided lawmakers to get to the 216 votes needed to pass the measure, according to the officials, who spoke on condition of anonymity.

Obama has met or called about three dozen lawmakers in the last five days and has cleared his schedule today for more last- minute appeals, including a campaign-style rally in nearby Fairfax, Virginia.

Obama postponed a five-day foreign trip to Indonesia and Australia to remain at the White House this weekend to ensure passage of a $940 billion bill that is of “paramount importance” to his presidency, spokesman Robert Gibbs told reporters yesterday.

House Leaders Work to Alleviate 11th-Hour Medicare Concerns

March 19 (Bloomberg) — House Democratic leaders worked to defuse an 11th-hour rebellion by more than a dozen lawmakers angry that hard-fought increases in Medicare reimbursements for local hospitals were removed from health-care legislation.

“My state is getting screwed,” said Representative Peter DeFazio, an Oregon Democrat. “They have to fix it. I’m a ‘no’ vote unless they fix it.”

Lawmakers representing health-care providers in 17 states are affected by the change, he said. As House leaders corral votes in favor of the legislation, DeFazio said “there are a number of people who may be miscounted at this time.”

House leaders, trying to round up 216 votes to pass revisions to the Senate bill, are working to craft a provision on the Medicare payments that would survive parliamentary challenges by Republicans when the measure is debated in the Senate.

‘Legitimate Concern’

Asked about the issue at a press conference, House Speaker Nancy Pelosi told reporters “we do want the language to be closer” to the House measure, which satisfied lawmakers “who have a legitimate concern about the


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Obama’s 8-Month Nightmare Could Begin Tomorrow

Obama’s 8-Month Nightmare Could Begin Tomorrow

Courtesy of Joe Weisenthal of Clusterstock

Barack Obama

Image: The White House

For months now, the pundits have predicted doom and gloom for Barack Obama and the Democrats come November.

But we’re not totally convinced.

A very likely storyline goes something like this (as we’ve already written): Healthcare passes. On Friday, April 2 at 8:30 AM the March jobs numbers come in, and they show for the first time decisive job growth (very possible). Finally Case-Shiller shows the housing rebound that stalled out over the winter, and voila, the recovery looks credible. Obama then uses the next 8 months to keep juicing the economy, thus riding to a narrow, not-devastating loss in November.

It’s very possible.

But it’s also very easy to envision the nightmare.

Healthcare fails. The jobs numbers look ugly and suddenly there will only be one storyline: why on earth did the Democrats spend so much time pursuing a healthcare bill, when unemployment hovered around 10%, and there was no job growth to speak of?

What the hell were they thinking?

And it’s not just jobs. Calculated Risk lays out various downside risks to the economy: the savings rate begins to creep up rapidly again (something that should happen, though for the right-now that’s seen as a negative), wage deflation picks up again, while small businesses continue to suffocate without access to credit.

In just a few days, starting tomorrow, this could all be the storyline, and then that will go from here until November, at which point John Boehner & Co. will mop the floor with the Democrats, removing the gavel from Nancy Pelosi’s hands for good.

If Obama doesn’t get much sleep tonight, we won’t blame him. 

See also: 

Late Night Going Badly For Dems, "NO" Votes Pile Up, Odds Of Passage Begin To Slip


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Healthcare Reform Sausage Not Fit For Consumption

Healthcare Reform Sausage Not Fit For Consumption

Courtesy of Mish  

Reverse of trade card

As healthcare "reform" heads for passage, president Obama will soon have bragging rights for getting legislation passed that no one has before.

Although the Senate and House versions are different, the odds are something will pass. Moreover the odds are very high the final bill will resemble legislation passed by the Senate.

Senate House Clash

Please consider Senate Democrats Move Toward Clash With House on Health Measure

Senate Democrats, after securing a hard-fought Christmas Eve victory on health-care legislation, now move toward a battle over taxes and other issues with the U.S. House as lawmakers look to merge their differing bills.

The two chambers took different paths toward covering tens of millions of uninsured Americans. And when they begin reconciling their measures next month, they’re likely to clash over issues that include whether to set up a new government-run insurance program to restricting federal funds for abortion.

Finding agreement on financing the legislation “may be the toughest of all,” said Senator Charles Schumer, a New York Democrat.

The House adopted a 5.4 percent income surtax on individuals earning more than $500,000 and couples earning over $1 million to pay for its $1.05 trillion bill. Senate Democrats would fund their $871 billion bill, which passed on a final vote of 60-39 yesterday, in part by placing a 40 percent excise tax on the costliest health-insurance policies. That provision is opposed by labor unions, which are among the party’s strongest backers.

Because it required all 58 Senate Democrats and two independents to stick together to get the 60 votes needed to secure passage of the chamber’s health-care bill, Thurber said it’s likely the Senate will win out on most issues. “The narrow majority in the Senate makes it almost a necessity to go with the Senate position,” Thurber said.

House negotiators “will have to capitulate on most main differences,” agreed Rogan Kersh, a public policy professor at New York University.

Drugmakers including Whitehouse Station, New Jersey-based Merck & Co. have a number of fights on their hands. Lawmakers are pushing for the industry to spend more than the $80 billion that it promised to help patients in the Medicare program for the elderly afford prescription drugs.

Negotiating Power

The House measure calls for the government to capitalize on its buying power to


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Kimble Charting Solutions

Tech Leader Hitting Brick Wall of Resistance and Going To Reverse Its Trend?

Courtesy of Chris Kimble

Is leadership running into a brick wall of resistance and about to pull an important reversal? A strong bullish trend looks to be experiencing an important breakout test!

The trend for SMH remains up as it has spent the past 10-years inside of rising channel (1).

This chart looks at Semiconductor ETF (SMH) on a monthly basis since inception. Fibonacci was applied to the 2000 highs and 2008 lows.

Fibonacci was applied to it’s 2000 highs and 2008 lows.

The rally off the March lows, which tested the 2000 highs, has it currently testing the und...



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Phil's Favorites

This Time It's Different: Maybe? ...John Street Capital Joins Me On Panic With Friends

 

This Time It’s Different: Maybe? …John Street Capital Joins Me On Panic With Friends

Courtesy of Howard Lindzon

(Originally posted on July 10, 2020)

This made me laugh yesterday…

In the shoulda, coulda, woulda department today…a $500,000 investment in the Amazon IPO would be worth $1 billion today if you held it.

Onwards&helli...



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Biotech/COVID-19

How deadly is COVID-19? A biostatistician explores the question

 

How deadly is COVID-19? A biostatistician explores the question

The number of confirmed and probable deaths from COVID-19 in New York City was 23,247 as of July 10, which is more than eight times the number who died in the 9/11 attack. Angela Weiss / AFP via Getty Images

Courtesy of Ron Fricker, Virginia Tech

The latest statistics, as of July 10, show COVID-19-related deaths in U.S. are just under 1,000 per day nationally, which is down from a peak averag...



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Zero Hedge

Taleb: Tail-Risk Hedges Are Now A Necessity

Courtesy of ZeroHedge View original post here.

Authored by Michelle Jones via ValueWalk.com,

Tail risk hedges are designed to only pay off when the markets suddenly plunge, so many investors don’t have the stomach to carry them. However, one expert on tail risk funds advises investors not to be in the market right now if they aren’t using a tail hedge.

No V-shaped recov...

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Digital Currencies

Chainlink Crypto Surges To A New All-Time High - Here's Why...

Courtesy of ZeroHedge View original post here.

Authored by Joseph Young via CoinTelegraph.com,

Surging volume, price discovery, and new partnerships pushed Chainlink price to a new all-time high at $8.48...

image courtesy of CoinTelegraph

...

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The Technical Traders

Gold & Silver Measured Moves

Courtesy of Technical Traders

The next few weeks are certain to attract much attention to precious metals.  Hardly anyone can argue that Gold has not experienced an incredible upside price rally over the last 12+ months.  Recently, Gold closed above $1800 for the first time since 2011.  Our researchers believe the next target is $1935.  Keep reading to learn why we believe this is the next major price target for Gold.

Gold Weekly Price Analysis

Over the past 18+ months, Gold continues to develop price patterns that seem to be replicating going forward.  This pattern consists of an advance in price followed by consolidation/rotation in price to set up a new momentum base.  The example of this price advance ...



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ValueWalk

How Banks Can Mitigate Credit Losses

By David Donovan. Originally published at ValueWalk.

Without question, the economic impact caused by COVID-19 has rocked companies and consumers across the globe. Big companies are drawing heavily on credit lines. Mom and pop shops are struggling to stay afloat, despite the government funding small business loans to the tune of $659 billion, of which $130 billion is still unclaimed. Companies are now trying to figure out how they can proactively address high risk borrowers to avoid massive defaults that will inevitably putting banks in an even stickier predicament.

Q2 2020 hedge fund letters, conferences and more

With more than 40% of the econo...



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Chart School

Dow 2020 Crash Watch - Update

Courtesy of Read the Ticker

Like 1929 the markets have bounced. This time it is on the back of the FED $6.5T money printing.

Previous Post: Dow 2020 Crash Watch 

But can the FED blow $6T every time the market rolls down to test support.

Yes, maybe before the US 2020 elections the FED will do 'what it takes'. But post elections not so much, the year 2021 is a long way from the next election (presidential or congress) and defense of the markets may not be so supportive at $6T or $10T per market smash. The FED may hesitate, and that will be window for stocks to break lower.

The 36 month simple moving a...

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Lee's Free Thinking

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

 

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

Courtesy of  

The COVID 19 pandemic is, predictably, worsening again in much of the US. Only the Northeast, and to a lesser extent some Midwestern states, have been consistently improving. And that trend could also reverse as those states fully reopen.

The problem in the US seems to be widespread public resistance to recommended practices of social distancing and mask wearing. In countries where these practices have been practi...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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